Australian man finds 4.6kg gold nugget worth $240,000 using metal detector on a budget: ‘Wife will be delighted’
- The 4.6 kg rock contained 2.6 kg of gold
- The man was researching the Golden Triangle in Victoria
- The area was popular during the 1850s gold rush
An amateur prospector has discovered a massive gold nugget worth $240,000.
The man, who did not wish to be named, had been panning for gold in Victoria’s “Golden Triangle” – an area from Ballarat through Bendigo to St. Arnoad, where prospectors have found gold since the 19th century.
He was combing the area with a $1,200 Minelab Equinox 800 metal detector when his budget scanner started beeping.
After unearthing the 4.6-kilogram nugget, the man took his find to Lucky Strike Gold in Geelong for evaluation.
Gold dealer Darren Camp discovered that the rock is made up of more than half its weight in gold – a staggering 2.6 kilograms.
An amateur prospector discovered a 4.6 kilogram gold nugget worth $240,000 (pictured)
He said, “Do you think there’s the equivalent of $10,000 in that?” As soon as it hit my hand I said (to him) “Try $100,000,” he said 9 news.
And he said, “Oh, my God, the wife will be happy about that.”
The man then told Mr. Camp that he had only brought half of the rock, leaving the other half “at home”.
Mr Camp said the man was lucky and described his discovery as a “once in a lifetime” discovery.
Gold prices in Australia hit an all-time high of $2,943.80 an ounce on March 23, making it the perfect time to find and sell the precious metal.
Even small pieces of gold can reach $1,000 in the current market as inflation continues to drive up the value of gold.
Mr Kamp explained that the man’s discovery was evidence that there was still gold to be found in Victoria and said budding prospectors should be persistent.
“If you have your name on it, you will find it,” said Mr. Camp.
You just need some luck and perseverance. It’s like Tattslotto: You never win unless you have a ticket.
Located in north central Victoria between Ballarat, Bendigo and St Arnaud, the ‘Golden Triangle’ covers small towns including Daylesford, Maryborough and Castlemaine.
The area was popular during the booming gold rush of the 1850s, with gold nuggets known for their purity, quantity, and size.
The 4.6kg rock contained 2.6kg of gold (pictured)
The man was panning for gold in Victoria’s “Golden Triangle” (pictured) – an area from Ballarat through Bendigo to St Arnoad where prospectors have found gold since the 19th century.
During this time, most gold nuggets were alluvial – and prospectors would find them in streams or riverbeds.
Keen miners and prospectors flocked to the area in search of fortune and built attractive towns, with many of the buildings now used as museums, galleries, and cafés.
The largest gold nugget ever discovered in the area was discovered by two Cornish miners on 5 February 1869 near Mullaghoul.
Dubbed the Welcome Stranger, the gold nugget weighed 72 kilograms, was 61 centimeters long and was sold for 10,000 pounds sterling (about 18,475 Australian dollars).
Today, a nugget of this size would bring in approximately $6.8 million.